A member of the British House of Lords has requested the British government to put sanctions on the Gupta family following similar actions by the US Treasury Department. Washington has imposed sanctions on the Gupta family network over a slew of corruption allegations in South Africa.
Lord Peter Hain, who has strong ties to South Africa, has written to the Chancellor of the Exchequer urging him to impose sanctions similar to the US action on the Gupta family network. In the letter, Hain writes that just as the US Treasury sanctions forbid domestic entities from doing business with the family, so too he’d like to see all UK entities instructed to impose a similar ban.
He names entities which include London-based banks like HSBC, Standard Chartered and the Bank of Boroda which he writes recently facilitated money laundering by the Guptas which Hain raised in the House of Lords both in 2017 and 2018.
The Guptas are based in a number of countries including India and the United Arab Emirates. South Africa’s Justice Department has asked the United Arab Emirates to finalise the ratification of a Mutual Legal Assistance Agreement and an Extradition Treaty.
South Africa’s Justice Department is also seeking help from several countries on the matter, including the United States, Canada, Switzerland, Mauritius, Hong Kong and China.
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